When rent is received, the account that is credited is the Cash account. Let's understand why this is the case in detail:

Explanation:



1. Nature of Rent:
Rent is an income for the recipient and an expense for the payer. From the perspective of the recipient, rent is considered as revenue. Hence, it is recorded as income in the books of accounts.

2. Accounting Principle:
In double-entry bookkeeping, every transaction affects at least two accounts. According to the rules of double-entry bookkeeping, the basic accounting equation is Assets = Liabilities + Equity. This equation must always be in balance. When one account is debited, another account must be credited to maintain this balance.

3. Rent Received:
When rent is received, the recipient receives cash. Cash is an asset and falls under the category of "Current Assets" in the accounting equation. According to the principle of double-entry bookkeeping, an increase in an asset account is recorded by debiting the account. Therefore, when rent is received, the Cash account is debited.

4. Rent Account:
The Rent account is a nominal account that falls under the category of "Revenue" in the accounting equation. Revenue accounts represent income or gains for a business. When rent is received, it is considered as revenue for the recipient. According to the principle of double-entry bookkeeping, an increase in a revenue account is recorded by crediting the account. Therefore, when rent is received, the Rent account is credited.

5. Journal Entry:
The journal entry to record the receipt of rent would be as follows:
- Debit: Cash account (to record the increase in assets)
- Credit: Rent account (to record the increase in revenue)

Conclusion:
In conclusion, when rent is received, the Cash account is credited. This is because cash is received, which increases the asset of the recipient. The Rent account, being a revenue account, is credited to record the increase in revenue.